基于新旧会计准则的上市公司盈利反应系数实证研究

A Study on the Earnings Response Coefficient of Listed Companies in China under the New and Old Accounting Standards

2006年我国颁布了与国际会计准则趋同的新企业会计准则,新准则的实施是否改善了会计盈余信息的信息含量和决策有用性是一个亟待检验的问题。本文采用事件研究法和盈利反应系数模型,基于沪深两市A股2004年至2006年以及2008年的数据,检验新准则的实施是否提高了会计信息的决策有用性。结果发现:新公允准则对经营决策有用性显示不强,就此提出相关的政策建议。

On Feb.15,2006,China promulgated the new accounting standards which are the convergence of the international accounting standards.It is important to study whether the implementation of new guidelines can improve the information content of accounting earnings information and enhance the information's usefulness.Earnings Response Coefficient is an important indicator which is used to prove the usefulness accounting information.This paper adopts the methodology of the event study and the Earnings Response Coefficient Model,and based on data analysis of corporations listed in Shenzhen and Shanghai,from 2004 to 2006 and 2008,to verify if the new accounting standards have improved the usefulness of accounting information,and to put forward some relevant policies recommendations.